Biconomy Acquires Klaster to Establish Modular Execution Environment for Web3

Biconomy, a provider of account abstraction for Web3 and decentralized applications (DApps), has acquired Klaster, a specialist in blockchain abstraction.

Web3 account abstraction provider Biconomy has acquired Klaster, a firm specializing in blockchain abstraction, to establish a Modular Execution Environment (MEE).

The acquisition will see Biconomy focus on developing the MEE, a conceptual framework intended to simplify blockchain complexities for developers and improve user experience.

According to a press release shared with Cointelegraph, the MEE will be built on the modular blockchain stack to enable the trustless and expressive execution of Supertransactions.

Supertransactions use Merkle trees and crypto-economic guarantees to allow developers to build cross-chain applications and use cases without writing complex smart contracts.

Biconomy describes MEE as a layer that sits between user interfaces and the blockchain, enabling multiple blockchain operations to be executed in a single action without requiring direct smart contract interactions.

This approach is intended to decrease the necessity for complex smart contracts while maintaining improved security and scalability of blockchain operations.

MEE combines account and chain abstraction technologies to establish a more flexible means of development that accommodates both onchain and offchain operations.

Speaking with Cointelegraph, Biconomy co-founder Ahmed Al-Balaghi explained that the acquisition will allow users “to experience easier ways of using anything onchain.”

“This acquisition matters a lot for the space because it brings extremely complementary tech stacks together where the whole is far greater than the sum of its individual parts,” he said.

Klaster’s background and expertise in chain abstraction come together with Biconomy’s account abstraction solutions through this latest acquisition to tackle blockchain limitations.

By specializing in cross-chain operation management, Klaster has developed technology that enables developers to interact with multiple networks through simplified workflows.

Paired with Biconomy’s tech, this integration opens the door to potentially reduced friction and complexity in cross-chain transactions and support for a wider range of applications.

Biconomy’s acquisition of Klaster is expected to expedite the firm’s Web3 innovation and product development, with MEE helping create an improved, user-friendly and versatile execution framework.

The modular approach and new acquisition follow Biconomy’s onboarding of artificial intelligence agents in June, enabling onchain transactions on behalf of users.

Biconomy co-founder Aniket Jindal explained to Cointelegraph that the AI agents could allow users to delegate specified transactional tasks and authorizations to AI agents within predefined parameters.